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3 things I wish I knew at 23: Why Ozempic isn’t a threat to ResMed (ASX:RMD)

Howdy Raskle,

Our Sunday Best Bits email is here to help you make sense of the financial world, one week at a time.

Yesterday, I — Owen — turned 33. I know. Old, right?

Here’s three things I wish I knew about life and business at 23:

1. The importance of mental health

Getting a life coach and psychologist on my side (after 30) is something I wish I knew I could do at 23. It changed my financial life for the better, 10 times over. But also my everyday. And the way I run my business. A psych is free with a mental health plan from your GP.

If you ever wondered why you can’t set long-term financial goals, constantly overwork yourself but have nothing to show for it, or strive for material success like BMWs or big houses — I highly suggest speaking with a professional.

2. Averaging up is far better than going cheap

Like most 20-somethings, I used to buy “cheap” stocks, Kmart vacuums and put up with negative people.

Now I buy the highest-quality companies and ETFs for the long term, own Dyson V8 Origin (try Catch) and I “prune” people from my life, quickly.

It’s just like compounding your wealth over time. It’s a process of ‘averaging up’ into a better way of living (or investing). Don’t buy “cheap” stuff.

3. Things can be bad, and getting better

Some weeks are hard. Some years are worse than others. Loved ones dying. Investments going wrong. Businesses failing.

But I’m thoroughly convinced that the longer term your horizon, and the more you invest in yourself, the better life becomes. But perspective matters.

Zooming out, the world is getting better. In 1980, 40% of world lived in extreme poverty. Today, that number is just 10%. In 1990, 58% of people lived in low-income countries. Today, that figure is just 9%. Test yourself to find out why some things are probably much better than you think.

For investors, this simply means: pessimism can work, from time to time. But over the long run — better on a brighter future is much, much, much better bet.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

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Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, the author or their clients may have a financial interest in some of companies or securities mentioned.
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